Franklin Ohio Non-Disturbance and Attornment Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• County: Franklin
• Control #: US-OG-1052
• Format: Word; Rich Text

Description

This form is a nondisturbance and attornment agreement. A Non-Disturbance and Attornment Agreement, also known as an NDA, is a legal document that is commonly utilized in the real estate industry. Specifically, in the context of Franklin, Ohio, a Non-Disturbance and Attornment Agreement refers to an agreement between a tenant and a landlord in a commercial lease setting. This agreement ensures that the tenant's rights and leasehold interests are protected in the event of certain predefined circumstances. In Franklin, Ohio, there are no specific variations or types of Non-Disturbance and Attornment Agreements that differ from those found in other jurisdictions. The overall purpose and terms of this agreement remain consistent across geographies. However, the exact details and provisions within the agreement may vary depending on the specific terms negotiated by the parties involved. A Non-Disturbance and Attornment Agreement typically involves three main parties: the tenant, the landlord, and a third party such as a lender or a mortgage holder. It is commonly utilized when the landlord secures a mortgage or another financing arrangement for the property while already having a tenant in place. In this agreement, the tenant is granted non-disturbance rights, which means that in the event of the landlord defaulting on their loan or mortgage, the lender will recognize the tenant's rights and will not disturb their occupancy or terminate their lease. This legal protection helps ensure that the tenant can continue to operate their business or utilize the premises without unnecessary disruptions. Furthermore, the tenant also agrees to attorn to the lender, essentially recognizing the lender as the new landlord in case of foreclosure or other legal proceedings. By attorning, the tenant acknowledges that they will honor the terms and conditions of their lease with the new landlord, which is usually the lender who has acquired the property through foreclosure or other means. Some essential keywords associated with a Franklin, Ohio Non-Disturbance and Attornment Agreement are tenant rights, leasehold interests, commercial lease, mortgage holder, lender, non-disturbance rights, default, loan, occupancy, termination, legal protection, business operations, premises, attornment, foreclosure, and landlord.

A Non-Disturbance and Attornment Agreement, also known as an NDA, is a legal document that is commonly utilized in the real estate industry. Specifically, in the context of Franklin, Ohio, a Non-Disturbance and Attornment Agreement refers to an agreement between a tenant and a landlord in a commercial lease setting. This agreement ensures that the tenant's rights and leasehold interests are protected in the event of certain predefined circumstances. In Franklin, Ohio, there are no specific variations or types of Non-Disturbance and Attornment Agreements that differ from those found in other jurisdictions. The overall purpose and terms of this agreement remain consistent across geographies. However, the exact details and provisions within the agreement may vary depending on the specific terms negotiated by the parties involved. A Non-Disturbance and Attornment Agreement typically involves three main parties: the tenant, the landlord, and a third party such as a lender or a mortgage holder. It is commonly utilized when the landlord secures a mortgage or another financing arrangement for the property while already having a tenant in place. In this agreement, the tenant is granted non-disturbance rights, which means that in the event of the landlord defaulting on their loan or mortgage, the lender will recognize the tenant's rights and will not disturb their occupancy or terminate their lease. This legal protection helps ensure that the tenant can continue to operate their business or utilize the premises without unnecessary disruptions. Furthermore, the tenant also agrees to attorn to the lender, essentially recognizing the lender as the new landlord in case of foreclosure or other legal proceedings. By attorning, the tenant acknowledges that they will honor the terms and conditions of their lease with the new landlord, which is usually the lender who has acquired the property through foreclosure or other means. Some essential keywords associated with a Franklin, Ohio Non-Disturbance and Attornment Agreement are tenant rights, leasehold interests, commercial lease, mortgage holder, lender, non-disturbance rights, default, loan, occupancy, termination, legal protection, business operations, premises, attornment, foreclosure, and landlord.